We may not have been able to predict the exact details of the COVID-19 pandemic, but we’ve known for years that the risks of global pandemics has been increasing, with the potential for major disruptions across the global economy.
So why does it seem as if this crisis rose out of nowhere, and what can we do about being better prepared for risks in the future?
Individuals often identify risks that are readily perceptible—whether because of personal exposure, media coverage, or both—as the most threatening.
Those risks not directly ahead tend to go unnoticed. Data from the World Economic Forum’s Global Risks Perception Survey of approximately 1,000 stakeholders have shown this.